Form 10-Q · Quarterly report
First Solar 10-Q, filed Oct 29, 2026
- Filed
- CIK
- 0001274494
- Accession no.
- 0001274494-26-000212
Summary
First Solar reported third-quarter 2026 net sales fell 22.8% to $1.2 billion and gross margin rose to 57.9%, with 4.3 GW produced and 4.1 GW sold. It commenced commercial production at the first phase of its sixth U.S. manufacturing facility in South Carolina, received payments for substantially all remaining IEEPA tariff refund claims after the U.S. Supreme Court ruled those tariffs unlawful, and reduced Series 6 production at international facilities amid market imbalances.
Key points
- Net sales decreased 22.8% to $1.2 billion year over year, primarily due to a 22.0% decrease in third-party module volume and lower revenue from customer contract terminations.
- Gross profit margin rose 19.6 percentage points to 57.9%, helped by more modules qualifying for the Section 45X advanced manufacturing production credit and higher sales price per watt.
- First Solar produced 4.3 GW and sold 4.1 GW of solar modules in the three months ended September 30, 2026, versus 3.6 GW produced and 5.3 GW sold a year earlier.
- First Solar commenced commercial production at the first phase of its sixth U.S. manufacturing facility in South Carolina in September 2026, expects the second phase in mid-2027, and received payment for substantially all remaining IEEPA tariff refund claims after the U.S. Supreme Court ruled those tariffs unlawful.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Executive Overview We are America’s leading PV solar technology and manufacturing company. The only U.S.-headquartered company among the world’s largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with our advanced, uniquely American thin film PV technology. Developed at R&D labs in California and Ohio, our technology provides a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV solar modules. Our PV solar modules are produced using a fully integrated, continuous process that does not rely on Chinese crystalline silicon supply chains. …
An excerpt of the text as filed with the SEC, cut for length.
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